Every girl loves diamonds, Tiffany Diamonds at that. Tiffany & Co was founded in 1837 by the jeweler, Charles Lewis Tiffany and became famous in the early 20th century under the artistic direction of his son, Louis Comfort Tiffaany. For me, I heard about Tiffany & Co after watching the classic film, “Breakfast at Tiffany’s”.
LVMH is a group that makes over 75 different brands and houses that design or create high value products. Some of the houses and brands they represent are Louis Vuitton, Fendi, Celine, Dior, and many more.
Now the company are about to add Tiffany & Co to their roster. As of today Tiffany & Co and LVMH have a permanent agreement where LVMH will acquire the leading luxury jewelry company for $135 per share which is for them $16.2 billion. Yes y’all i said it ! 16.2 BILLION DOLLARS!
With LVMH obtaining Tiffany & Co , it will ultimately make the company’s presence in jewelry increase in the United States.
“Tiffany has been focused on executing on our key strategic priorities to drive sustainable long-term growth. This transaction, which occurs at a time of internal transformation for our legendary brand, will provide further support, resources and momentum for those priorities as we evolve towards becoming The Next Generation Luxury Jeweler. As part of the LVMH group, Tiffany will reach new heights, capitalizing on its remarkable internal expertise, unparalleled craftsmanship and strong cultural values.” Said by Alessandro Bogliolo, Chief Officer at Tiffany & Co.
The asset of of Tiffany an Co has been approved by the boards of LVMH and Tiffany & Co.
The transaction is set to close in the middle of 2020